Sotheby's Geneva 16 November 2004, The Property of a Distinguished European Collector, lot 169.

Catalogue Essay

This extraordinary Patek Philippe reference 2499 pink gold illustrated in these pages is of exceptional quality and exceedingly rare. It is also potentially unique due to the dial configuration where the moon phases is flat with no semi-circle indentation. No other third series pink is fitted with a dial like the present watch. Further research reveals that the third series pink gold 2499 is the rarest version of all known series. There are 7 pink gold examples known of the first series and a further 9 examples of the second series. There are only 6 known examples of the third series pink including the present watch. This example first made its auction debut 13 years ago in Geneva, where it sold for almost a million Swiss Francs. The last third series to be offered in the public arena was 5 years ago. The present wristwatch is outstanding and in extraordinary condition. The case is unpolished and the lugs are extremely well defined with very sharp fluting. The hard enamel dial is beautifully finished with raised printing and is now a warm ivory tone with age. The other known pink 2499 third series are all comfortably resting in some of the most important collections in the world. Those familiar with this reference and the market will agree that it could be decades before one of the other 5 known is offered again on the market.

The present 2499, third series, cased in pink gold is one of 6 examples known and first appeared at auction twelve years ago, where the watch sold for a staggering 965,000 Swiss Francs.

There are in total six known third series cased in pink gold, and the present watch is the second earliest known. This watch is considered one of the best. It is possibly unique because the dial is the so-called 'flat' dial, where there is no indentation to complete the circle in the moon phase aperture. The present watch is unpolished, and is in sensational condition. The case is overall extraordinarily crisp and in very original condition. Its proportions remain sharp and full, and it is evident that there is no polishing throughout. The lugs are very sharp and fluted to the highest degree, and there is a hallmark on the band at 10 o'clock. The hallmark itself is very faintly punched into the case, which scholars and the market now know, that all pink gold 3rd series are hallmarked in exactly the same way. The dial is beautifully raised with hard enamel, and has a very rich warm ivory tone. In superb, unspoiled and original condition, this 2499 pink competes at every level and must be considered one of the most beautiful watches manufactured by the firm.

Today, reference 2499 is one of the most sought-after vintage wristwatches of all time. First introduced in 1950, the reference was only made in a total of 349 pieces.

Since its founding in 1839, this famous Geneva-based firm has been surprising its clientele with superbly crafted timepieces fitted with watchmaking's most prestigious complications. Traditional and conservative designs are found across Patek Philippe's watches made throughout their history — the utmost in understated elegance.

Well-known for the Graves Supercomplication — a highly complicated pocket watch that was the world’s most complicated watch for 50 years — this family-owned brand has earned a reputation of excellence around the world. Patek's complicated vintage watches hold the highest number of world records for results achieved at auction compared with any other brand. For collectors, key models include the reference 1518, the world's first serially produced perpetual calendar chronograph, and its successor, the reference 2499. Other famous models include perpetual calendars such as the ref. 1526, ref. 3448 and 3450, chronographs such as the reference 130, 530 and 1463, as well as reference 1436 and 1563 split seconds chronographs. Patek is also well-known for their classically styled, time-only "Calatrava" dress watches, and the "Nautilus," an iconic luxury sports watch first introduced in 1976 as the reference 3700 that is still in production today.